Meritage Portfolio Management Has $941,000 Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Meritage Portfolio Management raised its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,087 shares of the company’s stock after acquiring an additional 164 shares during the period. Meritage Portfolio Management’s holdings in Group 1 Automotive were worth $941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its stake in Group 1 Automotive by 159.6% in the third quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Gladius Capital Management LP acquired a new position in shares of Group 1 Automotive during the third quarter worth about $37,000. Planned Solutions Inc. acquired a new position in shares of Group 1 Automotive during the fourth quarter worth about $50,000. Anchor Investment Management LLC acquired a new position in shares of Group 1 Automotive during the fourth quarter worth about $53,000. Finally, NBC Securities Inc. acquired a new position in shares of Group 1 Automotive during the third quarter worth about $84,000. 99.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley raised Group 1 Automotive from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $200.00 to $255.00 in a research report on Thursday, February 29th. Stephens reiterated an “overweight” rating and set a $330.00 target price on shares of Group 1 Automotive in a report on Tuesday, February 13th. JPMorgan Chase & Co. dropped their price objective on Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Guggenheim upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective on the stock in a research note on Wednesday, April 17th. Finally, StockNews.com lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Group 1 Automotive currently has an average rating of “Moderate Buy” and a consensus price target of $331.67.

Group 1 Automotive Price Performance

NYSE:GPI traded up $2.28 during trading hours on Friday, reaching $302.74. 81,542 shares of the company were exchanged, compared to its average volume of 141,945. The company has a market capitalization of $4.09 billion, a P/E ratio of 7.09, a P/E/G ratio of 1.51 and a beta of 1.42. Group 1 Automotive, Inc. has a 1-year low of $214.25 and a 1-year high of $310.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.11 and a quick ratio of 0.33. The business has a 50 day moving average of $272.82 and a 200 day moving average of $274.60.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $9.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.44 by ($0.94). The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.41 billion. Group 1 Automotive had a return on equity of 22.82% and a net margin of 3.23%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $10.86 EPS. Research analysts forecast that Group 1 Automotive, Inc. will post 39.37 EPS for the current year.

Group 1 Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Thursday, February 29th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.45. Group 1 Automotive’s dividend payout ratio (DPR) is currently 4.44%.

Group 1 Automotive Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.